Despite Selling for $13 Million, Michael Schumacher’s Iconic Challenger’s Auction Fails to Break 5X World Champion Juan Manuel Fangio’s World Record

The 2003 Formula 1 season was one of the most competitive seasons ever. The 16-race season had seven different race winners. Michael Schumacher won the drivers’ championship with just 2 points between him and Kimi Raikkonen. The car driven by the German was recently auctioned and the amount of money it fetched was mind-boggling.

The F2003 won Ferrari the constructors’ championship, as Schumacher successfully defended his 2002 title. The V10 engine car has become the second most expensive F1 car to be auctioned and broke Schumacher’s own record of the F2001 sale that was auctioned for  $7.5 million. The 2001 car too helped Schumacher successfully defend his drivers’ championship title.

How much amount did Michael Schumacher’s title-winning car fetch?

Ferrari’s legendary 2003 F1 car was recently auctioned in Geneva, Switzerland. The 1954 Mercedes W196R, driven by Juan Manuel Fangio, was sold in 2013 for $29.65 million and remains the most expensive F1 car to be auctioned. The F2003, sold to a telephone bidder, went for $13.2 million as the amount exceeded the auctioning agency Sotheby’s’ expectations.

The auctioneer said, “This extraordinary car has reached a world record price for a modern Formula 1.” The auctioning agency had expected the car to be sold for around $9.4 million. The Maranello factory restored the car to its original glory, earning the car Ferrari Classiche’s “Red Book” certification.

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The 1954 Mercedes W196R auction looks set to hold the record for a long time. At least until we see Lewis Hamilton’s Mercedes championship winning being auctioned.

How much have other F1 car auctions fetched?

Michael Schumacher’s 4 cars make it to the top 8 most expensive F1 cars. His championship-winning F2002 fetched over $6.5 million in 2019. His F300, the only Ferrari with a hundred percent win record, was auctioned in August this year went for a whopping $6.2 million.

Lewis Hamilton’s 2010 McLaren-Mercedes MP4-25 is his only car to ever go under the hammer. The 2010 car, that he drove while partnering with Schumacher, was sold for $6.6 million. Jenson Button too drove that car that year. Brazilian legend Ayrton Senna’s 1993 record-breaking sixth Monaco Grand Prix winning car McLaren MP4/8A fetched around $4.3 million.

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Nigel Mansell’s 1992 title-winning Williams-Renault FW14B, auctioned in 2019 roped in close to $3.3 million. Mansell won his only world championship with the car while Williams won the constructors’ championship. Red Bull’s current Chief Technical Officer designed the car, which was so dominant that FIA had to bring in rules to level the playing field. Sotheby’s sold Mario Andretti’s 1982 Ferrari 126 C2 which he drove while replacing Didier Pironi mid-season in 2019 for $2,143,750.